MERCOSUR: Chocolate Market 2024

Chocolate Market Size in MERCOSUR

The MERCOSUR chocolate market amounted to $X in 2022, picking up by 2.1% against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Chocolate Production in MERCOSUR

In value terms, chocolate production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 13%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Chocolate Exports

Exports in MERCOSUR

In 2022, the amount of chocolate and other food preparations containing cocoa exported in MERCOSUR skyrocketed to X tons, increasing by 22% compared with the previous year. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 22%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, chocolate exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 20%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the main exporting country with an export of around X tons, which resulted at 51% of total exports. Colombia (X tons) took the second position in the ranking, distantly followed by Peru (X tons), Ecuador (X tons) and Argentina (X tons). All these countries together took approx. 47% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +50.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate supplying countries in MERCOSUR were Colombia ($X), Brazil ($X) and Peru ($X), together comprising 80% of total exports.

Among the main exporting countries, Peru, with a CAGR of +53.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, which is down by -11% against the previous year. Overall, the export price saw a slight reduction. The pace of growth was the most pronounced in 2015 an increase of 11%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+6.9%), while the other leaders experienced mixed trends in the export price figures.

Chocolate Imports

Imports in MERCOSUR

In 2022, chocolate imports in MERCOSUR reduced dramatically to X tons, with a decrease of -17% on 2021 figures. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. As a result, imports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, chocolate imports plummeted to $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 57% against the previous year. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

Chile represented the main importing country with an import of about X tons, which amounted to 37% of total imports. Brazil (X tons) took the second position in the ranking, distantly followed by Peru (X tons), Colombia (X tons), Argentina (X tons), Ecuador (X tons) and Uruguay (X tons). All these countries together held near 57% share of total imports.

Imports into Chile increased at an average annual rate of +9.6% from 2012 to 2022. At the same time, Peru (+13.2%), Uruguay (+6.0%) and Colombia (+1.0%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +13.2% from 2012-2022. Ecuador experienced a relatively flat trend pattern. By contrast, Brazil (-3.6%) and Argentina (-6.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Peru and Uruguay increased by +19, +6.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X), Brazil ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 70% of total imports. These countries were followed by Peru, Argentina, Ecuador and Uruguay, which together accounted for a further 25%.

In terms of the main importing countries, Peru, with a CAGR of +11.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, with an increase of 1.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 14%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform